Brightchamps, an edtech startup that offers online courses in programming, artificial intelligence, design thinking, and financial literacy to children aged 6 to 16, has raised $63 million in total funding since its launch last August and is now valued at nearly $500 million, according to founder and CEO Ravi Bhushan.
Premji Invest, the investment group of Wipro founder Azim Premji, has led a new $51 million round of fundraising, with participation from edtech investor GSV Ventures, Flipkart cofounder Binny Bansal-backed 021 Capital, and Singapore-based venture fund Beenext.
GSV Ventures, located in the United States has previously funded Indian edtech startups such as Classplus and LEAD School, led a previously undisclosed funding round of around $12 million in Brightchamps, which is present in 10 international countries, including the Middle East and Southeast Asia. It is expanding to the United States and Canada as a result of the increased funds. Bhushan further said that he intends to launch paid courses in India next year.
The 16-month-old startup’s annual recurring revenue (ARR) has increased tenfold In the current calendar year, . Brightchamps was founded in July of last year and started operations in August of 2020.
